Synapse Adds Surcharge-Free Cash to its Fintech Banking Platform by Joining Cardtronics’ Allpoint Network
July 30 2019 - 4:05PM
Synapse, a pioneer in developing the framework on which other
fintech and financial services firms can quickly build quality
banking applications, has joined the
Cardtronics-owned Allpoint Network to give Synapse customers
immediate access to the 55,000 ATMs that make up the surcharge-free
ATM network. Unlike many emerging fintech firms competing to serve
consumers directly, Synapse has built a plug-and-play architecture
that allows a wide range of financial services firms to quickly
spin up consumer-facing programs using the Synapse platform.
Service offerings from Synapse cover virtually all of the major
needs of an emerging, or evolving, financial services firm,
including card issuing, card processing, wire transfers, deposit
accounts, loan origination and processing, remote deposit capture
and more. With access to Allpoint Network’s 55,000 ATMs, 40,000 of
which are located in the United States, Synapse is able to extend
its service offering further, providing a physical connection point
for surcharge-free cash access in top retail locations from
coast-to-coast.
“What was super critical for us was the accessibility and
convenience of Allpoint Network ATMs, whose fee-free ATMs are
located in high-profile retail locations such as grocery stores and
pharmacy retailers,” said Synapse CEO Sankaet Pathak. “We want to
make it safe and easy for people with service-level jobs to do
internet banking, and that includes having convenient access to
quality network ATMs.”
Allpoint Network is a key element of Cardtronics’ solution
platform, developed to provide fintech firms and traditional
financial institutions with on-demand cash withdrawal and deposit
access, efficiently converting electronic funds to the physical
cash consumers demand. It is the largest retail-based
surcharge-free ATM network in the United States and the world.
“The Allpoint Network is a natural solution for fintech firms
like Synapse that are competing in a digital-focused world,
delivering on the virtual half of personal finance while
Cardtronics delivers on the physical cash access infrastructure
that connects bits and bucks,” said Brian Bailey, Cardtronics EVP
and Managing Director, North America. “As an enabling solution,
Synapse can leverage Allpoint membership to benefit multiple firms
and their respective customers, expanding Allpoint’s surcharge-free
value proposition well beyond a single relationship.”
About SynapseSynapse provides payment, deposit,
lending and investment products as APIs to FinTech companies who
build and launch their financial innovations on top of Synapse’s
banking infrastructure. Its mission is to ensure that everyone
around the world has access to best-in-class financial products,
regardless of their net worth.
About Cardtronics (Nasdaq: CATM)Cardtronics is
the trusted leader in financial self-service, enabling cash
transactions at approximately 229,000 ATMs across 10 countries in
North America, Europe, Asia-Pacific, and Africa. Leveraging
our unmatched scale, expertise and innovation, top-tier merchants
and businesses of all sizes use our ATM solutions to drive growth,
in-store traffic, and retail transactions. Financial services
providers rely on Cardtronics to deliver superior service at their
own ATMs, on Cardtronics ATMs where they place their brand, and
through Cardtronics' Allpoint Network, the world’s largest
surcharge-free ATM network, with over 55,000 locations. As
champions of cash, Cardtronics converts digital currency into
physical cash, driving payments choice for businesses and consumers
alike.
Contact Information:
Cardtronics Media RelationsJoel
AntoniniSVP –
Marketing832-308-4131joel.antonini@cardtronics.com |
Investor RelationsBrad ConradEVP – Treasurer
832-308-4975 ir@cardtronics.com |
Cardtronics is a registered trademark of
Cardtronics plc and its subsidiaries
All other trademarks are the property of their
respective owners.
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